Unsecured Business Loan Documents Required

Documents required for Unsecured Business Loan:
Unsecured business loan is provided by Banks and NBFCs to self-employed business owners and professionals. This type of loan is offered by Bank and other lenders without any collateral security or mortgage and been funded only on the basis of financial statements and repayment track on loans and cards.

Unsecured Business Loan Documents Required: The list of documents required to process and sanction a business loan are standard with all the lenders, but it may vary with different lenders on the basis of following factors:

Profile: Credit and risk profile of the loan applicant.

Type of organization: proprietorship/partnership firm, Private limited company, public limited company or LLP

Loan amount required

Repayment track on existing Loans and Cards

Resident Type of the loan applicant

List of Documents Required for Unsecured Bussiness Loan

Banks require 3 type of documents to process an unsecured business loan proposal, which includes banks internal documents, KYC documents and Financial documents of the loan applicant.

Internal Documentation of Bank/NBFCs

Unsecured Business Loan Application Form

A completely filled and duly signed loan application form with self-attested photographs of all the loan applicants and co-applicants.

Bank Statements Verification Form

Some of the NBFC and Banks take a signature of all the loan applicants and co-applicants on Bank statement verification forms to verify your signature and bank statements as required.

Declarations & Other Formats

Some of the lenders may ask you to sign some of the specifically designed formats and declarations basis of your profile and other documentations. This is often required to verify your KYC and Financial statements.

KYC Documents Required for Business Loan

Below mentioned KYC documents required for all the applicants and Co-Applicants

Copy of all the above documents required with self- attestation of the loan applicant/s. As per RBI guidelines for KYC an official of the lender will verify the documents with its original set and will sign it as original seen and verified.

Most of the Banks and NBFCs prefer offering business loan to an applicant who owns at least one property in the town/city he/she is applying for the loan. IT can be either residence/factory/office property

Please Note: All the above documents must be provided with self-attestation on it.